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. >>> next we are going drive dive in to look at what traders are expecting from congress' talks on taxes and spending. we'll be right back. wy 0a> c9?'epp$? >>> matt is the man with cmz trading. what is going on this week between the two bickerers factions. what are you and traders in again looking for? >> well, i think it would be great if we knew that hay, we have a deal going forward. these are the terms. this is how it is going to affect the economy and we can start to look at that 6789 but you know, even though we had the nice press conference last week where everyone said hey,er going to work together. >> the market has not had a huge sell off. there have been some indication that is people are worried. >> well, i think that you have a few factors going on. you have to "fiscal cliff" and people are getting tired of the warnings but it is a real big deal. nobody quite knows what is going to happen. so you have got a push and pull and i will say through this whole thing, we have seen not a lot of panic, the puts are very cheap. so, i think that there is reason to be you know cautious
. >>> next we are going drive dive in to look at what traders are expecting from congress' talks on taxes and spending. we'll be right back. wy 0a> c9?'epp$? >>> matt is the man with cmz trading. what is going on this week between the two bickerers factions. what are you and traders in again looking for? >> well, i think it would be great if we knew that hay, we have a deal going forward. these are the terms. this is how it is going to affect the economy and we can...
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is higher than ninety you have a huge future tax on your growth and you have negative downside for years to come but if you were one of the finance ministers what would you suggest as the solution i will start negotiating who should take the losses here because we need to reduce greek debt to g.d.p. below ninety percent if we really wanted for greece to have a future vote on his own but also certainly in part of the euro zone in europe so you need someone to take the loss of course the consequence of losses will be that countries like germany finland then the netherlands will have to take these losses and have sold them into their fiscal deficit something which is politically impossible to facilitate certainly twenty thirteen is an election year in germany so whatever is the most rational whatever is the best solution for greece is and remains out of reach in terms of being a political solution. and let's not check out the equity markets on wall street equities or in the rad that's following s. and p's biggest weekly gain since june the main reasons for concerns of the so-called fiscal c
is higher than ninety you have a huge future tax on your growth and you have negative downside for years to come but if you were one of the finance ministers what would you suggest as the solution i will start negotiating who should take the losses here because we need to reduce greek debt to g.d.p. below ninety percent if we really wanted for greece to have a future vote on his own but also certainly in part of the euro zone in europe so you need someone to take the loss of course the...
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. >> some of the eu executives say the member states say increase in carbon tax is an affordable in cash-strapped times. >> the members are open to come up with concrete cut to cut these gases up the conference. >> with so many lights glowing in the night at thousands of cars rolling through the city, it they do not seem too worried about global warming. qatar's initials are highest in the world. >> they are ambitious open for change on global level. they want to work to a new agreement that will take effect by 2020. >> this is a historic conference. it is a vital importance, considering the items on the agenda. it is a turning point in the negotiations on climate change. >> breyer's, experts have sounded urgent warnings about melting polar ice and extreme weather. they say that in order to limit global temperature rise to two degrees celsius, greenhouse gas emissions must be kept low, but total emissions are still rising every year. many experts believe may it already be too late. temperatures could surge by of to four degrees celsius this century. compared to pre-industrial levels. the conseque
. >> some of the eu executives say the member states say increase in carbon tax is an affordable in cash-strapped times. >> the members are open to come up with concrete cut to cut these gases up the conference. >> with so many lights glowing in the night at thousands of cars rolling through the city, it they do not seem too worried about global warming. qatar's initials are highest in the world. >> they are ambitious open for change on global level. they want to work to...
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save the government a lot of money because exposing tax evasion the government will give you ten percent of what they saved so we have case after case after case now of whistleblowers in america receiving enormous sums of money one woman received one hundred thirty one million dollars as a ten percent of what she saved the government tax avoidance so those things are encouraging to some whistleblowers we don't believe in that here we don't think that people ought to take money because it'll it'll suggest that we're only doing this for the money is there a coach say in the covering up it's a long time culture it's one of the few things that you could say is uniquely british in a sense that the idea that when the police kill somebody nobody's ever convicted there's been a thousand deaths in police custody in this country in the last twenty odd years and not one policeman not one has ever been convicted it's always been covered up there's a famous case in two thousand and six where a brazilian electrician was shot to death by seven. uniform explain coast police in front of forty horrified p
save the government a lot of money because exposing tax evasion the government will give you ten percent of what they saved so we have case after case after case now of whistleblowers in america receiving enormous sums of money one woman received one hundred thirty one million dollars as a ten percent of what she saved the government tax avoidance so those things are encouraging to some whistleblowers we don't believe in that here we don't think that people ought to take money because it'll...
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Nov 26, 2012
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tax-exempt bonds sound good when taxes are going up but the value of the bonds have been bit up because panic buying is pushing our interest rates go up. you'll lose a lot of principle on munis bonds. if you buy one today you have a 1% to 2% chance to the upside and a 40% chance of losing money. that's not good odds. run away from interest rate-sensitive bonds. that's my number one, you know, tip of the day, if you want to call it. stay away from that. >> the takeaway from ed. thank you for joining us, stewart. a pleasure. >>. >> 12 minutes before the closing bell. right now the dow jones industrial average is lower by 54 points. nasdaq higher by 70 point. >> violent protests in egypt are one of the many hot spots around the globe affecting our markets. we'll round off all of them and find out how they are affecting your money coming up next. >>> plus, one top democrat says members of his party threatening to jump off the fiscal cliff. they say, do it already! he says that's a business mistake. sandra levin joins us from capital to tell us why he thinks it's a baddied. working since i w
tax-exempt bonds sound good when taxes are going up but the value of the bonds have been bit up because panic buying is pushing our interest rates go up. you'll lose a lot of principle on munis bonds. if you buy one today you have a 1% to 2% chance to the upside and a 40% chance of losing money. that's not good odds. run away from interest rate-sensitive bonds. that's my number one, you know, tip of the day, if you want to call it. stay away from that. >> the takeaway from ed. thank you...
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cbo says middle class tax cuts are imperative, not ohioer income tax cuts. that's a fact. >> i think it's very possible and i think what has to happen now is that the republicans, many who say they're no longer listening to grover cleveland, at least not bound by his pledge, now need to listen to the electorate and the electorate has spoken. they say address the cliff. do so by extending middle class tax cuts but not those for upper income tax pairs becauyers -- >> i'm sure you were being cheeky there. listen, the issue, though, is that the spirit of our problem long term is too much spending. historically, you raise the taxes, then the spending cuts don't happen. and then what does that mean? that means future generations, like the ones today, are now facing higher taxes because of spending cuts that never came. what do you say to folks who say, if we raise taxes now, in the end you guys will never cut? >> because there will be some spending cuts in -- addressing the cliff. the budget control act, we did cut spending. we know it has to be done. first we hav
cbo says middle class tax cuts are imperative, not ohioer income tax cuts. that's a fact. >> i think it's very possible and i think what has to happen now is that the republicans, many who say they're no longer listening to grover cleveland, at least not bound by his pledge, now need to listen to the electorate and the electorate has spoken. they say address the cliff. do so by extending middle class tax cuts but not those for upper income tax pairs becauyers -- >> i'm sure you were...
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the cuts, the tax hikes? >> usually i wake up about 3:00 in the morning and i wonder where are we going to balance the budget, first off with the economy as it is right now, it is just slowly increasing. we have a pension crisis just like every other state just about has a pension crisis. liz: you have had success. i want our viewers to know you have balanced -- balanced two previous budgets if not more, you have closed deficit holes of more than 4 billion dollars. you have had success. >> we went from a 4.2 billion dollars deficit to two one time budgets with no tax increases. but we have pensions that are eating up a good portion of the budget that we're going to have to address. if all of a sudden this federal money that has been coming to the state and going down to the local communities is cut off, we're going to have to sit back and say what services can we provide and what services are going to disappear? but what concerns me more is the unemployment that it's going to create. i think the cbo has said
the cuts, the tax hikes? >> usually i wake up about 3:00 in the morning and i wonder where are we going to balance the budget, first off with the economy as it is right now, it is just slowly increasing. we have a pension crisis just like every other state just about has a pension crisis. liz: you have had success. i want our viewers to know you have balanced -- balanced two previous budgets if not more, you have closed deficit holes of more than 4 billion dollars. you have had success....
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minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported, it's all affected by sequestration. >> joining me now, cnbc washington reporter eamon javers. you heard the numbers we just ran down. what is the short-term t
minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government...
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catalonia is actually very wealthy this is strong as portugal was but the fact is they give far more in taxes to the central government and they actually get back in terms of investment from madrid in things like schools and hospitals so the overall feeling is that they believe that separatism could well be the way forward after mass will have to try and fulfill his election promise of holding a referendum on independence from spain as you mentioned he did not get an absolute majority so we will not be able to push this straight away but luckily for him the second biggest party that was voted in was also pro independence so the feeling is they will be able to negotiate and between them they will have enough power to push through this referendum but the biggest sticking point for this referendum is that it is against the spanish constitution some commentators are saying it could actually lead to the arrest of aftermath he tries to push it through the spanish prime minister matter only russia has also said that he would be desperate to keep hold of one of the country's wealthiest regions at a t
catalonia is actually very wealthy this is strong as portugal was but the fact is they give far more in taxes to the central government and they actually get back in terms of investment from madrid in things like schools and hospitals so the overall feeling is that they believe that separatism could well be the way forward after mass will have to try and fulfill his election promise of holding a referendum on independence from spain as you mentioned he did not get an absolute majority so we...
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tax rates. there's ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> and john boehner's called for a short term fix to overt the fiscal cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending cuts by the end of the year. >>> still to come, the miss crest shopping day of the year for online retailers. snapping up deals on big ike ket item. we'll get a look. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> today is cyber monday. analysts say it's not as big a day as it's been in past. so many people sh
tax rates. there's ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> and john boehner's called for a short term fix to overt the fiscal cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending...
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they will accept higher tax revenue. the democrats still want higher tax rates. i'm saying, everybody, that the republicans are the ones doing the shifting here. the democrats are holding right where they always have been. sandra: republicans are definitely shifting, now talking about revenue, not about raising tax rates, very different than that. but also put their foot down when it comes to entitlements, medicare and social security. they are also going to address spending in ways that democrats are not going to be happy about. so everybody is going to have to sort of cave here, it would seem. stuart: there has to be compromise on the other side as well as republicans on tax. maybe the democrats have to compromise on entitlement reform at some point. they haven't yet. sandra: grover norquist has already come out and said nobody is caving here, if they do, it is just a trap the republicans are falling into. and this is going to be horrible for republicans, especially in the next election. liz: he also pointed out that george h.w. bush won gulf war one and then r
they will accept higher tax revenue. the democrats still want higher tax rates. i'm saying, everybody, that the republicans are the ones doing the shifting here. the democrats are holding right where they always have been. sandra: republicans are definitely shifting, now talking about revenue, not about raising tax rates, very different than that. but also put their foot down when it comes to entitlements, medicare and social security. they are also going to address spending in ways that...
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simplifying the tax code, keeping those marginal tax rates low. let's not create a worse in the distortions that already exist in the tax code. dagen: great to see you. take care. we will see you soon. connell: there it is. closing loopholes with norquist. we consider that a tax hike. dagen: lindsey graham. you made the point. loud and clear. a lot of people backing off. connell: backing off the pledge. people will be losing their benefits at the end of the year if congress does not act now. dagen: the money game for the holidays. americans are sitting at their computer screens, not working, looking for the perfect gift. take a look at oil. see where it is trading today. oil is at $87 a barrel. connell: eight quarter past the hour. we will have stocks now as we do every 15 minutes. nicole: we are at our session lows of the day. we certainly had a nice run up last week. over a 100-point game. we are losing about 100 points. i just checked on the dow jones industrials. twenty-eight of the names out of 30 were in the red. intel and caterpillar were t
simplifying the tax code, keeping those marginal tax rates low. let's not create a worse in the distortions that already exist in the tax code. dagen: great to see you. take care. we will see you soon. connell: there it is. closing loopholes with norquist. we consider that a tax hike. dagen: lindsey graham. you made the point. loud and clear. a lot of people backing off. connell: backing off the pledge. people will be losing their benefits at the end of the year if congress does not act now....
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wealthy it has an economy the size of portugal's but in terms of the number in terms of the size of taxes they pay it's much more to central government than they actually get back from madrid in terms of investments in schools and hospitals so they're annoyed about that and particularly when you consider that unemployment here is around twenty five percent so if a referendum does happen i suppose you could say that you would expect people to vote in favor of it although i say that those people who are against separatism do point out that if catalonia does draw from spain it could also mean it has to drop out of the european union and not many people in catalonia would be in favor of that if that turns out to be the case and maybe they would prefer the status quo so there are a lot of ifs and buts but what we do know as a result of today's election there is a growing sentiment of nationalism and a sense for independence here in catalonia. an arctic air spokesperson for a group dedicated to helping separatist movements believes a seven catalan nation could have a mutually beneficial relatio
wealthy it has an economy the size of portugal's but in terms of the number in terms of the size of taxes they pay it's much more to central government than they actually get back from madrid in terms of investments in schools and hospitals so they're annoyed about that and particularly when you consider that unemployment here is around twenty five percent so if a referendum does happen i suppose you could say that you would expect people to vote in favor of it although i say that those people...
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the extension of this tax relief is included in a larger tax cut bill that was passed out of the senate finance committee but again, like all other tax relief, it faces the danger of of the fiscal cliff. it's not just the mortgage settlements involved here. short sales have been a huge part of this housing recovery and if you have to pay taxes on a short sale -- let me tell you, most of those borrowers are just going to opt to go into foreclosure. sue? >> understandably so. diana, thank you very much. >>> up next, we're analyzing the analysts. on tap today, facebook, yahoo! and rimm. >>> plus we'll talk live with the ceo of land's end to get his take on the official kickoff of the holiday shopping season. you're watching "power lunch" on cnbc. >>> the national debt grew $112 million per month, on average, between june 2011 to june 2012. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as
the extension of this tax relief is included in a larger tax cut bill that was passed out of the senate finance committee but again, like all other tax relief, it faces the danger of of the fiscal cliff. it's not just the mortgage settlements involved here. short sales have been a huge part of this housing recovery and if you have to pay taxes on a short sale -- let me tell you, most of those borrowers are just going to opt to go into foreclosure. sue? >> understandably so. diana, thank...
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revenues and raising tax rates. i get it. but do your constituents get it? >> isn't this where i'm supposed to confess my sins to my preacher. >> when you have four people dead, how do you call that hype? >> how many security contractors died in iraq. do you know? >> i don't. >> as u.n. ambassador, she has an obligation not just to be a puppet. >> when i see this focus on what was essentially a small fire fight, it's impossible to figure out what happens on them sometimes. >> she could conceivably get your vote. >> the emphasis has been extremely political probably because fox was operating as a wing of the political party. >> tom ricks, thank you for joining us. >> as far as young women are concerned, i can state my position on abortion. other than that leave the issue alone. >> 20 hail marys, 20 our fathers. ja let's get to our fanl. ana marie cox is a correspondent for "the guardian," and msnbc political analyst karen finney. karen, we just heard senator john mccain a moment ago in "top lines" saying, okay, from
revenues and raising tax rates. i get it. but do your constituents get it? >> isn't this where i'm supposed to confess my sins to my preacher. >> when you have four people dead, how do you call that hype? >> how many security contractors died in iraq. do you know? >> i don't. >> as u.n. ambassador, she has an obligation not just to be a puppet. >> when i see this focus on what was essentially a small fire fight, it's impossible to figure out what happens on...
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they talk about taxes on national television. i know important apornography w it. it made it very clear that any republican who signed the pledge, that's pretty much every republican in congress, who balks at someone whose career is over. to me, that meant the defectors are far and few between. as a moderate leadership cannot deliver those pledge to the norquist hardline. norquist who seems to welcome a bust on the wall of shame, used to beg for it, is more powerful than speaker john boehner. norquist is more powerful than boehner. it feels as if the air went out of the compromise zeppelin. hey, like the graph zeppelin, like, lakers. retail, now we're hearing that there wasn't as much follow-through to the initial sales from thursday night. i think it's nonsense, but mo macy's and costco were tagged with huge loss es today. i believe the holiday sales are far are flat-out strong. amazing numbers from apple, like a rocket since it hit the 505 level last week. terrific ipad mini sales. wasn't that a product the doom and gloomers ha
they talk about taxes on national television. i know important apornography w it. it made it very clear that any republican who signed the pledge, that's pretty much every republican in congress, who balks at someone whose career is over. to me, that meant the defectors are far and few between. as a moderate leadership cannot deliver those pledge to the norquist hardline. norquist who seems to welcome a bust on the wall of shame, used to beg for it, is more powerful than speaker john boehner....
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taxes rise. martha: even the white house is warning that the uncertainty of a potential tax hike could hurt american retailers during this deholiday shopping season. white house economists saying quote, as we approach the holiday season which accounts for 1/5 of industry sales, retailers can not afford the threat of tax increases on middle class families. bill: as we learn more about what each side is kill willing to concede in this argument president obama meets with leaders later in the week. this morning we'll meet with house majority leader eric cantor live in "america's newsroom.". next hour we talk to him where these negotiations are. how much each side is willing to give up and what they want in return. ultimately will they get a deal? eric cantor coming up next hour. martha: it is all in the language and semantics of these discussions. as u.s. lawmakers continue all this wrangling over some kind of budget deal we work towards here at home, european lawmakers are meeting today on their fin
taxes rise. martha: even the white house is warning that the uncertainty of a potential tax hike could hurt american retailers during this deholiday shopping season. white house economists saying quote, as we approach the holiday season which accounts for 1/5 of industry sales, retailers can not afford the threat of tax increases on middle class families. bill: as we learn more about what each side is kill willing to concede in this argument president obama meets with leaders later in the week....
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are paying taxes some other way. >> corporations pass along taxes to their consumers anyway. to the customers as well, right, so then you're sort of saying they're going to get stuck with it. shareholders would get stuck with part of it and it also gets passed along with, that seems self-defeating, too. >> we're talking about lowering corporate taxes on the shareholders. on the beneficiaries of those higher. >> you worked in the white house, steve. you know the president. >> i do. >> you know the way he thinks and frankly many of his cabinet members and those quhis pwhispe his ear thing. he'll barnstorm the country and talk about the 39.6%, talking about marginal rates. where is the room to the extent you believe there's room, to compromise, with a house that doesn't want to talk about marginal rates at all? where is the white house able to compromise? >> i've been doing deals for many years, greg has, there's always compromise. could you put the buffett rule in to raise a bit of money over here? the beauty of this situation, it's difficult, but the beauty of it is, it's not
are paying taxes some other way. >> corporations pass along taxes to their consumers anyway. to the customers as well, right, so then you're sort of saying they're going to get stuck with it. shareholders would get stuck with part of it and it also gets passed along with, that seems self-defeating, too. >> we're talking about lowering corporate taxes on the shareholders. on the beneficiaries of those higher. >> you worked in the white house, steve. you know the president....
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3.8% tax. this is going to happen regardless whatever comes out with the fiscal cliff. the "wall street journal" on saturday, the personal finance section did a great job explaining that. here it is, 3.8% tax, joint files of under $250,000. it's going to apply to dividends, x-munis. for now, munis not included. net capital gains, rents, royalties, and some investment annuities. what it is -- basically if a couple has adjusted gross income of $250,000, but they have $2,000 of interest, $4,000 of dividends and $1,000 in net capital gains would not apply. $240,000 -- but if you had capital gains, net capital gains of 10,000, you're in that threshold of 250, it's going to kick in and that 3.8% on that net, the net difference being $6,000 above 250 is 3.8%. $228. the point here is this is a number that everyone can at least try to think about and figure out where it is. this is happening no matter what happens with rise above. these are numbers you should start thinking about and planning right now
3.8% tax. this is going to happen regardless whatever comes out with the fiscal cliff. the "wall street journal" on saturday, the personal finance section did a great job explaining that. here it is, 3.8% tax, joint files of under $250,000. it's going to apply to dividends, x-munis. for now, munis not included. net capital gains, rents, royalties, and some investment annuities. what it is -- basically if a couple has adjusted gross income of $250,000, but they have $2,000 of interest,...
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gains tax rate. you know what all of it is? all of it is about can they govern? can they govern? can we be governed? can the people in washington, d.c., in the house and the senate and the president, can they govern? >> they have to. >> well, they have to. they absolutely have to. >> just to make a point for those who thought that the health care reform law was historic, many people -- i actually assume that most of the five people at this table think that it's a shocking thing that america is the most powerful country on earth before the health care law was passed, had a massive number of many, many millions of uninsured people in the country when every other industrialized country has universal coverage. >> right. we do all agree with that, right? >> one of the more historic things, it's going to move millions of uninsured people into the ranks of the civilized world. >> and as the president promised, also not only is he going to put 30 million people on the rolls for health care, it's also going t
gains tax rate. you know what all of it is? all of it is about can they govern? can they govern? can we be governed? can the people in washington, d.c., in the house and the senate and the president, can they govern? >> they have to. >> well, they have to. they absolutely have to. >> just to make a point for those who thought that the health care reform law was historic, many people -- i actually assume that most of the five people at this table think that it's a shocking...